PayPal to Unveil New Card-Swiping Device; Product Will Be Cheaper Than Square's Device (EBAY)
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Bloomberg reporting eBay (Nasdaq: EBAY) will unveil a new card-swiping device for PayPal on Thursday, a direct shot at a similar product by Square Inc.
Sources have said the device will plug into the headphone jack of a smartphone and cost merchants 2.7 percent on transactions. The Square Inc. product currently charges merchants 2.75 percent.
PayPal is set to host an event in San Francisco Thursday.
Shares of eBay seem unaffected by the headlines. The stock last traded at $37.58, up 0.7 percent from Tuesday's close.
Sources have said the device will plug into the headphone jack of a smartphone and cost merchants 2.7 percent on transactions. The Square Inc. product currently charges merchants 2.75 percent.
PayPal is set to host an event in San Francisco Thursday.
Shares of eBay seem unaffected by the headlines. The stock last traded at $37.58, up 0.7 percent from Tuesday's close.
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